St. Paul daily globe., 1887-11-18

sl5.400, 900. This decrease has been
made up by changes in other denOmina-
tiOns, the volume of tiveS, tens and
twenties increasing about S43, 900.
The shipments of legal tenders and sill
yer certificates of small denominations.
together with the increase in the circu-
latiOn of silver coin, during the fifteen
months ended Sept. 80, amounted to up
wards of $40, 600, 900, while in addition
several million dollars in small gold
coins have been drawn into circulation.
Under the provisions of the act of June
8, 1872, certificates of deposit amounting
to S34, 100000 were issued during the fis-
cal year for United States notes lodged
in the treasury. The redemptiOns in
the same period were s43, $500. .000. There
remained outstanding June 80 only S9,-
G2G, 900, which is the least amount shown
at the end of any fiscal year since the
issue began. The treasurer attributes
the limited use of these certificates at
this time to the change in bank
reserves from notes to coin
and the demand for currency
caused by business activity:
There were no gold certificates issued
during the year. The redemptiOns
amounted to S9,6S7, 426 of the total of
S1,173, ,354, $50 issued from November,
lCOo. L ltit WcIC OulSldlulllS dJ IiiC
close of the year 1921 1856, ,917, of which
$50, ,26l, $50 were in the treasury and
S91 .2225. .437 in circulation. The holdings
of the treasury decreased nearly S25,-
000,000 in the year. The amount out
standing Oct. 81 was 1882, ,931, of
which the treasury held So, ,S5S, l5S.
The silver certificates outstanding at
the close of the fiscal year amounted TO
Sl45, 543. $50, an increase of nearly $50
10000 IN twelve months. The amount
in the treasury fell off in the same
period from nearly S2S,000,0c0 to s., 425,+
133. while the increase in the actual cir
culatiOn was little more than So, ,000,-
900. This increase is due in part to the
demand for small notes arising from the
diScontinuance of the issue of legal t,i-
der rs and 2's. There were put out
during the year S14. .l56,01O i'll 81 certiti-
Gates. SS.976, 900 in 2's and S1,760,CO0 i'll
SIS. The treasurer believes that nearly
all of the trade dollars have been re-
deemed. The coinage of standard sill
yer dollars for the fiscal year was $685.
2l6,S31, an increase of $3,377,9 1926 over
1885. On Oct. 81 the treasury held S2l4,-
113, ,532, and there were S62 ,540,625 in
circulation. Between June 30, 1886,
and Oct. 81. 1887, the
FRACTIONAL SILVER COIN
in the treasury decreased from S2s, ,904,-
6S1 to S24, ,36S, 135, and the minor coin
from sa7T7, ,S14 to S5l 400. The l and )
cent pieces on hand are not more than
sufficient for payments over the counter.
The treasurer calls attention to the rapid
decrease in the redemptiOnS of fractional
currency land shows by comparison with
other paper issues that a larger amount
than has been estimated has probably
innn lnct Il H.
outstanding June so, as shown by the
books, was sl5, ,322, 902, while the redemp-
tiOnS for the year were only 81, l23. The
treasurer renewS the recommendations
of his predecessors. that all of the postal
revenues be deposited in the treasury
and be disbursed on the warrant of the
secretary, and that the payment of
speaker S certificates for salaries and
mileage OF members of congress be de-
vOlved upon disbursing officer. Be
tween the end of the fiscal wear
and Oct. 81 the number of depositary
banks was increased from 200 to
220. At the latter date the treasury
held bonds of the market value of SAL
04S,326 to secure S3l.167, ,47S of public
moneys on deposit with these institu-
tiOns, an increase of over $1,000, 900 in
the market value of bonds held, and of
little more than SS,000,000in moneys
secured for the period. The receipts of
public funds by the banks during the
year were SIPS. 1872, 100, making the ag-
gregate from the beginning of the sys-
tenn little short of S4.jG0,O0O,000. There
was decrease of SS4.0OS. 100 during the
year in bonds held to secure the circllla-
ton OF national banks, leaving on de-
posit Sl9l ,966, 100 against which there
was outstanding Sl66,625, ,65S in national
bank notes.